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Thread: Business news 2019

  1. #61
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    Two weeks ago, Amazon canceled plans to build a new headquarters in Queens after dozens of politicians, labor leaders and activists complained that Amazon does not deserve the $2.5 billion in tax breaks and incentives that were promised. What a difference two weeks has made. They decided the creation of 40,000 jobs and all that tax revenue was enough to make Amazon welcome in Queens after all -- but I doubt Bezos will reconsider. My advice to New Yorkers: Fuhgeddaboutit!

    New York Governor Andrew Cuomo speaks with Jeff Bezos, furiously trying to win back Amazon

    https://www.msn.com/en-us/money/comp...zon/ar-BBUdIWz

  2. #62
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    Lyft lost $911,300,000 in 2018. Lyft has lost $2,282,400,000 in the past three years. And Lyft hopes to raise as much as $100,000,000 from its IPO. Ummm.......that number might be just a bit optimistic, don'tcha think?

    Lyft files for IPO, beating Uber to the punch

    https://www.cnn.com/2019/03/01/tech/lyft-ipo/index.html

  3. #63
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    Remember when Trump promised his huge tax cuts would be like "rocket fuel" in boosting our nation's economy? That didn't happen. The federal deficit rose to $779 billion in fiscal 2018, an increase of 17% over the previous year, and is projected to reach $1.1 trillion in fiscal year 2019. Meanwhile, tens of thousands of Americans have lost their jobs and tens of thousands more will lose their jobs this year -- and we can't blame it all on Amazon.

    The Gap, Victoria's Secret and even Tesla: 4,300 store closures already announced this year

    https://www.msn.com/en-us/money/comp...ear/ar-BBUfuPC

  4. #64
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    The Coca-Cola Company owns 50% of San Diego-based Suja Life, which makes 95 different organic juices and kombuchas. Among the ingredients: beets, cucumbers, kale, chard, celery, ginger, lemongrass, collard greens, turmeric, flax seed and sunflower seed butter. I guess the juices appeal to humans who are herbivorous.

    Does Coca-Cola have a billion-dollar brand in cold-pressed juice favorite Suja Life?

    https://www.forbes.com/sites/chloeso...ite-suja-life/

  5. #65
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    Oh, poor baby! But don't feel sorry for him -- he's still worth $62.3 billion. Forbes just released its annual list of the world's wealthiest people. Twenty-one-year-old Kylie Jenner is now a billionaire. Ain't that sweet?

    Mark Zuckerberg's net worth fell by $9 billion last year

    https://www.cnn.com/2019/03/05/tech/...ist/index.html

    Billionaires: The richest people in the world

    https://www.forbes.com/billionaires/#7957b51f251c

  6. #66
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    A record number of retail stores went out of business in 2017. That record will likely be broken in 2019.

    Family Dollar to shut down hundreds of stores

    https://www.middletownpress.com/busi...s-13668312.php

  7. #67
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    IBM will "create an immutable audit trail, which can be used to create new business models and transform existing business processes for credit unions." Ummm.....okay, whatever that means..

    IBM cuts credit unions deal for blockchain services in $1.7 trillion industry

    https://www.forbes.com/sites/rogerai...lion-industry/

    Anyone unfamiliar with blockchain technology can learn about it at a site with the lovely name Blockgeeks:

    https://blockgeeks.com/guides/what-i...in-technology/

  8. #68
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    When Disney announced plans to buy Fox, the White House said the deal would be good for workers. Uh-huh. Analysts now expect around 5,000 Disney-Fox employees will lose their jobs.

    Disney says its Fox takeover will take effect on March 20

    https://www.cnn.com/2019/03/12/media...eal/index.html

  9. #69
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    We know formaldehyde is used as a body preservative in funeral homes. I was surprised to discover that formaldehyde is also used in the manufacture of plywood, particle board, glue, fabric, axles, brake shoes, automobile transmissions and other products. The American Cancer Society explains its use and its dangers at https://www.cancer.org/cancer/cancer...maldehyde.html -- dangers which Lumber Liquidators tried to ignore.

    Lumber Liquidators to pay $33 million for misleading investors about formaldehyde in laminate flooring

    https://www.latimes.com/business/la-...312-story.html

  10. #70
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    Eliminating 400 jobs is "cleaning house"? I bet the 400 corporate employees losing their jobs would have a different name for it. Rite Aid stock closed today at 72¢, a gain of 4¢. Wooh!

    Rite Aid's CEO is out as company cleans house

    https://www.cnn.com/2019/03/13/busin...ceo/index.html

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